The Institutional Limited Partners Association (ILPA), a trade association for limited partners in private equity, has made a noteworthy appointment by hiring Eugenie “Genie” Cesar-Fabian as its first general counsel. Prior to this position, Cesar-Fabian served as the chief legal officer and head of private equity at Enzo Advisors LLC, an advisory firm specializing in environmental, social, and governance factors.
In her new role, she will transition from the sponsor side of the business to the limited partner and advocacy side, signaling ILPA’s commitment to engage, empower, and connect limited partners to maximize their performance on individual, institutional, and collective basis.
This development comes at a time when private equity firms are grappling with new rules established by the US Securities and Exchange Commission (SEC) that aim to increase transparency in the private funds industry. Additionally, hedge funds and private equity firms have sued the SEC over regulations pertaining to fees and investor expenses.
Cesar-Fabian brings nearly two decades of private funds experience to her new role, having previously served in private practice at Hughes Hubbard & Reed and Bingham McCutchen. She possesses additional expertise in securities law and financial services, proving herself to be a valuable asset for ILPA as it navigates the shifting legal landscape.
Aside from the SEC’s private fund advisers’ rule and other legal challenges, Cesar-Fabian stated that she would handle diverse macro issues affecting the private equity industry and limited partners, including tighter capital rules for big banks and investment screening rules for China-focused investments. Moreover, as ILPA expands its operations into Europe, Cesar-Fabian will play a significant role in supporting this expansion and encouraging positive engagement between limited and general partners.
The information provided here was taken from an article originally published on Bloomberg Law.